The following is from Stanphyl Capital and foundry Capital latest letter to investors. Stanphyl was profiled in our April issue, and Foundry in our inaugural edition. Our August issue with a great small cap manager out of Chicago will be out shortly.

If you would like to talk to the portfolio manager about any positions feel free to contact below.

Mark Spiegel
(917) 579-1884
mark@stanphylcap.com

Troy E. Marchand

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